Month: October 2020
Nigeria: Despite #EndSARS Protests, Investors Gain N121 Billion in Equities Trading
Investors this week gained N121 billion on the Nigerian equities market, in a trading week marred by #EndSARS protests in…
Nigeria: Border Closure Boosts Rice Sufficiency, Manufacturing, Says FG
The Federal Government on Thursday said the closure of Nigeria’s land borders was good for the economy as the country…
The Turkish Lira Is Getting Smoked, Will Crash To New Lows Due To ‘Unorthodox’ Policies, Analysts Say
Turkish policies have become too ‘hard-headed’, says professor Turkey’s embattled currency hit another record low on Thursday, touching 7.95 to…
Protesters March On Nigerian Parliament After Army Threatens To Step In
Hundreds of protesters marched to the gates of Nigeria’s parliament on Thursday, hours after the army said it was ready…
Exclusive: OPEC+ Fears Second Virus Wave Could Lead To Oil Surplus In 2021
OPEC and its allies fear a prolonged second wave of the COVID-19 pandemic and a jump in Libyan output could…
Bankrupt Car Rental Firm Hertz Secures $1.65 Billion In Financing, Shares Soar
Bankrupt car rental company Hertz Global Holdings Inc said on Friday it had lined up $1.65 billion in debtor-in-possession financing,…
Brexit Brinkmanship: Johnson Says Prepare For No-Deal, Cancels Trade Talks
Prime Minister Boris Johnson said on Friday it was now time to prepare for a no-trade deal Brexit unless the…
BioMed Valued At $14.6 Billion In Deal For Sale From One Blackstone Fund To Another
Blackstone Real Estate Partners and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by…
Morgan Stanley Dares To Share With Bankers’ Pay
Morgan Stanley is making more, and paying more. Logical as that sounds, it’s also rather daring. Handing over big sums…
Sudan Signs Preliminary Deal With GE To Boost Power Provision
The Sudanese government signed a memorandum of understanding with General Electric GE.N on Thursday aimed at increasing power generation by up…
Exclusive: Second Sovereign Downgrade Wave Coming, Major Nations At Risk – S&P Global
Some of the world’s top economies could see their credit ratings cut or put on downgrade warnings in the coming…
Wall Street Bank Trading Boom Does Little To Assuage Concerns About Lending
As Wall Street banks reported quarterly results this week, investors wondered about the staying power of the trading bonanza that…
Banking Czar, Jim Ovia Acquires $10.5m Apartments, Guest House For His Sons
Jim Ovia perfected the money attitude while his peers cut their first tooth in banking. He was the enthralling magnate,…
Investors Mobilise For Legal Battle As AgroPark, Again, Postpones Payout To 2021
AgroPark, another agri-investment platform, has left investors spoiling for a legal battle after it sent a letter informing them, for…
Stripe Acquires Nigeria’s Paystack For $200M+ To Expand Into The African Continent
When Stripe announced earlier this month year that it had picked up another $600 million in funding, it said one…
Twitter’s Jack Dorsey Urges Bitcoin Donations To Fight Police Brutality In Nigeria
The CEO of Twitter and Square has urged Bitcoiners to join the fight to end the Special Anti-Robbery Squad (SARS)…
CBN, Shippers’ Council Read Riot Act To Shipping Firms
Governor of the Central Bank of Nigeria (CBN) says the bank has discovered that several shipping companies in Nigeria were…
Foreigners Are Perpetrating Illegal Mining In Nigeria-Minister
Mr Olamilekan Adegbite, the Minister of Mines and Steel Development says perpetrators of illegal mining in Nigeria are mostly foreigners.…
China Is Snapping Up Japanese Government Bonds, And It’s Not Just For The Returns
SINGAPORE — China’s recent purchase of Japanese government bonds surged to the highest level in more than three years –…
Dollar Strengthens As Vaccine, Stimulus Hopes Dim
The U.S. dollar strengthened on Tuesday as investors turned cautious after a Johnson & Johnson COVID-19 study was paused and…
Sterling Bounces On Hope Of Further Brexit Talks
Sterling climbed from the day’s lows on Wednesday after a source close to the EU-UK Brexit talks said a trade…
Maize Importation: CBN Saves Nigeria From Food Crisis, Farmers Say
The recent importation of 262,000 metric tons of maize has saved Nigeria from a food crisis, poultry farmers in Nigeria…
NNPC, IDSL Chart Path To Achieving $10 Production Cost By 2021
The Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Integrated Data Services Limited (IDSL) said they are continuing the…
Nigeria: Agitations Spread Nationwide
Lawyers join SARS protests • Don’t use live bullets, NBA warns police • Makinde’s deputy, Oyo lawmaker victims of brutality, join march • OPC demands seeks compensation for slain members since Abacha’s regime • Inspector General summons defunct SARS personnel to Abuja.
IMF Predicts Rise In Bad Loans Over COVID-19 Pandemic
THE International Monetary Fund (IMF) has predicted capital shortage for many commercial banks across the globe due to rise in…
Naira Weakens At Black Market As External Reserves Loses $42 Million In 1 Week
Nigeria’s exchange rate at the NAFEX window remained stable agai nst the dollar to close at N386/$1 during intraday trading…
$100m Fund For SMEs In Nigeria, Others
A$100 million small and growing businesses (SGB) to support entrepreneurship is opened for business owners to access. First of its…
Businessman Commends FG on Onitsha Port
The Chairman and Managing Director of DAS Energy Services, Effurun, Delta State, Chief Sunny Onuesoke has commended the federal government…
Value Of Naira To Dollar At Parallel Market Falls To N461/$1
The value of the Nigerian Naira to the United States Dollar at the parallel market depreciated by N1 on Tuesday…